Economics Quiz for SSC CGL, MTS and other exams set-2

Dear SSC Aspirants, practice General studies-economics questions for upcoming SSC CGL 2017, MTS and Other exams.

1. Suppose the demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering raising prices, it can expect a relatively:
(a) large fall in quantity demanded.
(b) large fall in demand.
(c) small fall in quantity demanded.
(d) small fall in demand.

2. Monetary-base is made up of?
(a) Required reserves with the central bank and currency with the public
(b) Currency with the public and total deposits
(c) Reserves of banking system and currency with the public
(d) Borrowed reserves and non-borrowed reserves

3.Which one of the following causes the condition in which prices increase rapidly as a currency
loses its value ?
(a) Stagflation
(b) Conflation
(c) Stealth inflation
(d) Hyper inflation

4. Which one of the following curves is a graphical representation of the relationship between unemployment and the job vacancy rate ?
(a) Philips curve
(b) Laffer’s curve
(c) Beveridge curve
(d) Friedman’s curve

5. Which of the following sectors of the Indian Economy is prohibited from Foreign Direct Investments (FDIs) ?
(a) Retail Trading
(b) Lottery Business
(c) Gambling and Betting
(d) All of the above

6. Earlier it was thought safe to allow each financial institution to carry out only one type of finance service. But now Banks are selling shares, Insurance companies can sell banking services. These new financial conglomerates are colloquially referred to as :
(a) Multinationals
(b) Financial Supermarkets
(c) Market Regulators
(d) Brand Promoters

7.Expand the term LIBOR :
(a) London Inter–Bank offered Rate
(b) London Inter–Bank Operational Rate
(c) London Inter–Bank Offsite Rate
(d) London Inter–Bank Onsite Rate

8. Which of the following agencies recently laid down guidelines for foreign companies who wish to raise money from the Indian capital markets ?
(a) RBI
(b) IRDA
(c) Registrar of Companies
(d) SEBI

9. Sheqel is the currency of :
(a) Israel
(b) Kenya
(c) Iran
(d) Iraq

10. Shilling is the currency of :
(a) Kenya
(b) South Korea
(c) Israel
(d) Ghana

Answers
1-a
2-b
3-d
4-c
5-d
6-b
7-a
8-d
9-a
10-a

- http://www.examguruadda.in/2017/03/economics-quiz-for-ssc-cgl-mts-and_15.html